Saudi gold prices and global ounce trend

Gold prices in Saudi Arabia experienced a modest decline today across all denominations. The price of 24-karat gold per gram reached approximately 505.9 SAR (134.9 USD), while 21-karat gold was about 442.7 SAR (118.1 USD), and 22-karat gold was around 463.8 SAR (123.7 USD). Worldwide, gold prices fell by over 1% due to rising oil prices and their impact on inflation, with expectations of another interest rate hike by the Federal Reserve. This increases the cost of holding gold, which is considered a safe haven amid economic fluctuations.

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